When Intertemporal Rewards Are Hedonic, Larger Units of Wait Time Boost Patience
Rafay A. Siddiqui, Ashwani Monga, Eva C. Buechel
Journal of Consumer Psychology · 2018 · Volume 28 · Issue 4
Abstract
In intertemporal choices between smaller-sooner (SS) and larger-later (LL) rewards, five studies reveal that patience for the LL option is influenced by an interactive effect of the measurement units used to express wait time (large vs. small) and the type of the reward (hedonic vs. utilitarian). Specifically, larger time units boost patience, but more so when rewards are hedonic rather than utilitarian. In line with the numerosity heuristic, the effect of time units on patience is mediated by larger time units shrinking wait time perception. This effect arises because hedonic (vs. utilitarian) rewards promote a reliance on heuristics rather than systematic calculations. Therefore, a more calculative mindset diminishes the effect of units even for hedonic rewards and eliminates the hedonic-utilitarian asymmetry. These results contribute to research on numerosity, intertemporal choice, and hedonic-utilitarian differences, and offer a simple tool for practitioners to influence patience.
Keywords
Time perception and temporal effects, Hedonic and experiential consumption, Intertemporal choice, Numerosity, Hedonic-utilitarian differences
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